#1FY 2025 Operating Budget Presentation Delaware State Housing Authority February 8, 2024 Delaware State Housing, DSHA Authority#2· . ABOUT DELAWARE STATE HOUSING AUTHORITY (DSHA) Our mission is to efficiently provide, and to assist others to provide quality, affordable housing opportunities and appropriate supportive services to low- and moderate- income Delawareans. Core DSHA Services: • Homeownership • Rental Housing • Community Development#3NATIONAL PERSPECTIVE 10 States People Are Leaving: 10 States People Are Moving To: 1. California 1. Texas 2. New York 2. 3. Illinois 3. 4. Pennsylvania 5. Massachusetts 6. Washington 5. तं लं वं फं Florida South Carolina 4. North Carolina Georgia 6. Tennessee 7. Colorado 7. Nevada 8. Indiana 8. Maine 9. Michigan 9. Delaware 10. Wisconsin 10. Idaho *Forbes. September 4, 2023. https://www.forbes.com/home- improvement/features/states-move-to-from/#4LOCAL PERSPECTIVE: HOUSING NEEDS ASSESSMENT • • • Purpose: • • Typically commissioned by local governments and housing agencies Help understand current and projected housing costs and needs Inform planning, programming, and funding requests Third-party consultant: Root Policy Research Methodology: • • Demographic data Housing production data Housing cost data • Stakeholder interviews Focus groups • Housing survey RESIDENT SURVEY BY THE NUMBERS NUMBER OF SURVEY RESPONDENTS 2,650 HOUSEHOLDS WITH A DISABILITY 139 Statistical Significance 517 Random 2,133 Snowball Snowball WHERE RESPONDENTS LIVE 264 HOUSEHOLDS WITH CHILDREN UNDER 18 New Castle 1,037 THT Random Snowball 148 Sussex 151 561 756 125 East Sussex 439 SINGLE PARENTS 102 Kent 535 Random 53 Snowball 398 HOUSEHOLD INCOME NEW CASTLE $0-$30,000 189 Random Snowball 742 HOUSEHOLDS OVER 65 Random Snowball 151 514 $30,001-$47,500 $47,501-$75,000 $75,001-$95,000 $95,001-$160,000 134 195 95 164 HOUSING STATUS $160,001+ Prefer not to 112 322 Homeowner answer 148 1,052 Renter Mobile Home 68 Precariously Housed 110 714 23 40 225 RACE/ETHNICITY Non-Hispanic 22 $0-$25,000 165 14 $25,001-$35,000 89 $35,001-$60,000 325 1,334 $60,001-$75,000 141 79 $75,001-$160,000 69 Black 499 Other 33 133 271 28 $160,001+ 86 192 White Hispanic 62 HOUSEHOLD INCOME-SUSSEX & KENT#5LOCAL PERSPECTIVE: HOUSING NEEDS ASSESSMENT • Notable Findings: . • High level of cost burden among renters. Current housing supply is becoming increasingly unaffordable for renters aspiring to homeownership. • Building permits indicate a continuing trend of developing single- family detached homes, which are unaffordable for many · . Delawareans. Support for diverse housing types varies, but is generally highest among lower-income households and renters. Certain populations have disproportionate housing needs: Black households; households with disabilities; immigrant households; and single parent households.#6REINVESTING IN DELAWARE General Fund: Program Funding: $290 million Housing Development Fund (HDF) $4,000,000 State Rental Assistance Program (SRAP) $4,000,000 Total General Fund: $8,000,000 Bond Authority/Private Market 74% Federal Bond Bill: 16% Affordable Rental Housing Program $6,000,000 DSHA/State Sources 10% Downtown Development Districts $5,500,000 Strong Neighborhoods Housing Fund $4,000,000 Total Bond Bill: DSHA Budget Request $15,500,000 $23,500,000 *Not inclusive of one-time $30,000,000 supplement#7Tyvek Fvvak USA Tyvek H 22 LISA Tyvek Tyvok Hasefies k vek Tyve vek us. USA Tyv vek 405 $4,000,000 REQUESTED State Housing DSHA Delaware Authority FINANCING FOR THE FUTURE HOUSING DEVELOPMENT FUND • • Approximately $19.4 million leveraged $32.2 million in LIHTC equity in FY2023 HDF also leveraged about $44.4 million in private lending and other funding sources in FY2023 Total leverage of HDF is nearly $4 of investment for every $1 of state funds provided#8HOUSING DEVELOPMENT FUND PROJECTS 2013 - 2023 baton Delaw Birchwood of Rodney Court indywine Park Brendan T. Byrne State Forest Blvd 72 Market St er State Fest Alder Creek Carelton Court Our Lady of Grace C&D Canal Conservation Area ancroft arkway The Flats III The Flats IV The Flats I & II Clay W 2nd St Broon W 7th St 202 5 Village of St. John 13 Riverside I & II Walnut St aka Jazz Court SOWOmington Quaker Arts Lofts of Clifford Brown Market St. Village Claymont St. Apts. uge Esri, NASA NGA, USGS, FEMA, County of Chester, data palgoy, Delaware FirstMap. New Jersey Office of GIS, Esri, TomTom, Garmin, SafeGraph, GeoTechnologies, Inc. METI/NASA, USGS, EPA, NPS, USDA, USFWS 13 A St ntic City DE Bond I 801 Village at Mckee Branch Dover Whatcoat Apts. 313 Delaware Bay Delaware 404 Diamond Court I & II 113 113 Market Street Apts. Dunbarton Station Herring Ridge Meadowbridge Apts. anticoke Idlife Area Jefferson II Millsboro Landing Foster Commons Salisbury 50 10ft Cape May National Wildlife Refuge HDF & LIHTC Properties Esri, NASA, NGA, USGS, Delaware FirstMap, New Jersey Office of GIS, VGIN. Esri, TomTom, Garmin, SafeGraph, FAO, METI/NASA, USGS, EPA, NPS, USFWS#9HOUSING DEVELOPMENT FUND PROJECT: CHRISTIANA VILLAGE mini mobile mini STORAGE SOLUTIONS WILMINGTON | NEW CASTLE COUNTY 76 LIHTC Units#10HOUSING DEVELOPMENT FUND PROJECT: OWENS/QUEENS MANOR DOVER | KENT COUNTY 110 LIHTC Units 302-368-8538#11HOUSING DEVELOPMENT FUND PROJECT: DIAMOND COURT I & II HARRINGTON | KENT COUNTY 66 LIHTC Units#12Delaware State Housing DSHA Authority SUPPORTING AT-RISK RESIDENTS $4,000,000 REQUESTED • • STATE RENTAL ASSISTANCE PROGRAM Helps low-income individuals who require affordable housing and supportive services to live safely and independently in the community Program participants contribute 28% of their monthly income for rent, and SRAP subsidizes the remaining portion Applications must be referred to DSHA by DHSS or DSCYF#13State Rental Assistance Program Partner Base Program DHSS DSCYF Population State Housing DSHA Delaware Authority DSAMH-Mental Health Disabilities DSAAPD-Physical Disabilities DDDS - Developmental/Intellectual Disabilities SUPPORTING AT- RISK RESIDENTS Youth exiting out of foster care Family reunification Families with school-age children (HomeWorks) experiencing homelessness High-risk individuals with previous involvement in gun crimes • • 2,395 households assisted (units leased) since the launch of the program in 2011 Home Works supported a family homelessness initiative in Christina School District and also worked in both Capital and Seaford School Districts Special Initiatives School Districts Group Violence Intervention (GVI)#14STATE RENTAL ASSISTANCE PROGRAM (SRAP) Households Assisted Since 2011: 2,395 as of 12/31/2023 1000 900 800 700 600 500 400 307 300 225 203 200 100 0 920 9 Family Reunification Youth Aging Out Home Works DDDS 115 DMMA 164 GVI 41 DSAAPD 171 DSAAPD - 2 28 DSAMH 212 DSAMH-2 Family PBH Pilot Delaware State Housing DSHA Authority#15SUMMARY OF BUDGET REQUEST General Fund: Housing Development Fund State Rental Assistance Program Total General Fund: Bond Bill: Affordable Rental Housing Program Downtown Development Districts Strong Neighborhoods Housing Fund Total Bond Bill: DSHA Budget Request *Not inclusive of one-time $30,000,000 supplement $4,000,000 $4,000,000 $8,000,000 $6,000,000 $5,500,000 $4,000,000 $15,500,000 $23,500,000#16SUPPLEMENTAL FUNDING DSHA received $48.25 million in State and Local Fiscal Recovery Funds (SLFRF) authorized by the American Rescue Plan Act (ARPA) and $30 million in state dollars from the State of Delaware. These dollars are being used to fund programs related to economic development and affordable housing programs: טיוי Catalyst Fund Accelerator Fund Preservation $16.8 Million 58% Committed Supporting 50 units $20.2 Million 68% Committed Supporting 455 units Fund $6.75 Million 95% Committed Supporting 199 Units#17SUPPLEMENTAL FUNDING DSHA received $48.25 million in State and Local Fiscal Recovery Funds (SLFRF) authorized by the American Rescue Plan Act (ARPA) and $30 million in state dollars from the State of Delaware. These dollars are being used to fund programs related to economic development and affordable housing programs: X Market Pressure Relief Fund $4.3 Million 100% Committed Supporting 440 Units Tenant Rent Reporting Pilot $200,000 161 Enrolled Applications Closing in March Closing Cost & Downpayment Assistance Delaware Diamonds 147 Families $2,148,000 Home Sweet Home 180 Families $2,160,000 *2023 Only#18SUPPLEMENTAL FUNDING MOVING FORWARD • $26 million remaining ($13.6 in ARPA and $13.1 in State Funds) to be spent by 2025 Proposed uses: 。 Mixed Income Market Fund (FKA the MR Accelerator Fund} to target slightly higher income levels (65% - 100% AMI) as that is identified as a critical need Continue the Catalyst Fund past the December 2024 commitment deadline as there is a robust pipeline for the program 。 Offer another Special 4% LIHTC Round, like the special round offered in the fall of 2023. Offer another round of downpayment and closing cost assistance (Launched in January)#19HOMEOWNERSHIP DSHA helps people achieve homeownership, which supports families, strengthens communities, and makes our state a better place to live. KISS YOUR LANDLORD GOODBYE! Delaware Housin DSHA DESTATEHOUSING.COM B Kiss Your Landlord Goodbye in 2023 749 families benefit from DSHA programs $6,384,294 in downpayment and closing cost assistance distributed 657 first-time homebuyer's tax credits distributed 。 $193,323,877 in mortgages were financed Mike Webb and fiancé Nicole Moore, Delaware Diamonds Recipients#20DELAWARE MORTGAGE RELIEF PROGRAM DSHA received $50 million in Homeowner Assistance Funds from the U.S. Treasury Department. These dollars are being used to assist Delawareans facing foreclosure or mortgage delinquency. Delaware State Housing DCHA Authority The Perez Family and Sabrina Hawkins, DEMRP Program Specialist 2/5/2024 10:47:43 AM Latest Data Refreshed DELAWARE HOMEOWNER ASSISTANCE FUND PROGRAM PROGRAM OVERVIEW County All TOTAL ASSISTANCE PAID TOTAL APPLICATIONS IN PROGRESS ASSISTANCE DISTRIBUTED BY CATEGORY $40M $38,611,228 586 $30M UNIQUE HOUSEHOLDS ASSISTED FUNDS PENDING FOR CONTRIBUTIONS TO LOAN MODIFICATIONS $20M 3,070 (Blank) $10M $OM AVG. ASSISTANCE AMOUNT TOTAL PROGRAM FUNDING REMAINING 12,577 (Per household, inclusive of property charges) $3,081,053 Mortgage HOA Fees Utility Property Taxes Home Repair Manufactured Home Lot Rent Amo... Insurance Premiums Delaware#21State Housing, DSHA Delaware Authority Eugene R. Young, Jr., Director 18 The Green Dover, DE 19901 (302) 739-4263 www.destatehousing.com#22Delaware State Housing, DSHA Authority APPENDIX Delaware State Housing DSHA Authority#23450 400 350 300 250 200 150 100 50 50 0 GVI STATE RENTAL ASSISTANCE PROGRAM (SRAP) Vouchers Issued/Leased as of 12/31/2023: 794 38 18 20 35 Home Works Family Reunification Youth Aging Out DDDS 55 DMMA 424 57 14 57 56 DSAMH DSAMH-2 DSAAPD 14 DSAAPD - 2 Family PBH Pilot Delaware State Housing DSHA Authority